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of the fiscal cliff, a glimmer of -- well, something. >> i'm optimistic we may still be able to reach an agreement that can pass both houses in time. >> but don't hold your breath. there is deep skepticism in washington that the leadership of our country will get its act together on time. so let's say we all go over the cliff. what does it mean for you? how big a deal is this for ordinary taxpayers? >> well, it's a big deal in that it would be kind of a sudden shock if you had a lighter take-home pay starting at the begin of 2013. >> first, payroll taxes. the taxes that fund social security, they'll go up on everyone. from 4.2% to 6.2% as the recession-related payroll tax holiday expires. then, income taxes will go up across the board, every tax bracket. we're talking about real money for every household. for instance, a single parent with two kids making $37,000 a year, she'll get walloped with a $2800 plus tax increase. a married couple with a kid in college making about $137,000, that's $8,000 more in taxes on that family. and if you're really rich, say lebron james rich, $53 milli
. as the negotiations surrounding that looming fiscal cliff come to a fever pitch just before the new year. but this is also a time of tradition and celebration in the nation's capital, and nobody decks the halls like the team at the white house for christmas. christmas is there, has come to mean a special visit every year, not just from santa claus, but from abc's own barbara walters. barbara? >> terry, in what has become one of my favorite holiday traditions for the fourth year, i had the privilege of interviewing the president and mrs. obama at the white house. this interview was taped days before the tragic shooting in connecticut and was postponed until now. it was the first time the couple sat down together since winning re-election. mrs. obama also took me on a personal tour of what is called the people's house. and it's never more true than during the christmas season. after thanksgiving, more than 80 volunteers from nearly 40 states descend on the white house, trimming 54 trees, plus every nook and cranny. first dog bo is the star of the show. there he is inspecting the decoration
Search Results 0 to 4 of about 5 (some duplicates have been removed)